Focus Series: The Annuity (Re)insurer Restructuring Tsunami
Conning is Pleased to Announce its Newest Focus Series-
The Annuity (Re)insurer Restructuring Tsunami
HARTFORD, CT – May 11, 2021 – The entire annuity competitive landscape is undergoing a seismic restructuring. Over the past ten years, new entrants have sought to gain access to annuity insurers and their substantial assets by establishing new (re)insurance platforms. At the same time, many annuity insurers have sought to reposition within or exit the annuity market altogether through a combination of subsidiary sales or reinsurance transactions. Together, these transactions are restructuring both the participants and the capital sources of the annuity industry.
The Conning Focus Series report, “The Annuity (Re)insurer Restructuring Tsunami” is the first in a four-part series that Conning will release in 2021 to examine the role of new parties entering this market and the shifting competitive landscape.
“Beginning in 2018, insurers have divested at least $220 billion of annuity and life insurance liabilities as they restructured their business models. The restructuring of the annuity market is being driven on the supply side by insurers looking to divest annuity risk and on the demand side by (re)insurers of that risk and the management of those related assets,” said Terence Martin, a Director with Insurance Research at Conning.
“The emergence of these (re)insurers is accelerating the devolution of the annuity business. Companies are restructuring to focus on the part of the value chain they feel provides the best opportunity to increase returns on capital and profitability,” said Scott Hawkins, a Director with Insurance Research at Conning.
“Even after a decade, it may well be that the industry is closer to the beginning than the middle of this restructuring and growing specialization,” added Steve Webersen, Head of Insurance Research.
“The Annuity (Re)insurer Restructuring Tsunami” Focus Series is available for purchase from Conning by calling (888) 707-1177 or by visiting www.conningresearch.com.
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Conning (www.conning.com) is a leading investment management firm with a long history of serving the insurance industry. Conning supports institutional investors, including insurers and pension plans, with investment solutions, risk modeling software, and industry research. Founded in 1912, Conning has investment centers in Asia, Europe and North America.
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